Finance, Loan, Debt and Credit.

January 12, 2018

Student Unemployed Debt Consolidation: One Loan Many Advantages

Filed under: Debt — Tags: , , , , , , , , — admin @ 12:47 pm

Student unemployed debt consolidation is also a debt consolidation loan. The only difference is, it can be availed by students only. Student unemployed debt consolidation helps you to merge all your existing debts into a single debt with low interest rate and with flexible repayment duration. It can be availed by students suffering from bad credit status also.

Student unemployed debt consolidation helps you to consolidate all the debts availed for the purpose of higher studies into one with comparatively low interest rate. This way it becomes easier to pay for you and that too at low interest rate. Student unemployed debt consolidation is basically of two types, secured and unsecured. To avail secured student unemployed debt consolidation loans you’ll have to place collateral against the loan amount. This can be any of your personal properties like car, home etc. On the other hand no such security is needed to avail an unsecured student unemployed debt consolidation. No credit check is required to avail student debt consolidation loans. It means students having bad credit history due to arrears, defaults, CCJ, IVA etc can also avail the benefits of student unemployed debt consolidation, but with slightly higher interest rate compared to good creditors. The interest rate may vary depending upon the type of loan availed by student and the credit history of the student. Unsecured student unemployed debt consolidation loans carry slightly higher interest rate than secured one, this is because lenders advance loans without any security.

Student unemployed debt consolidation is very beneficial for students suffering from multiple debts. Student unemployed debt consolidation helps them to merge all their debts into a single debt with low interest rate. Student unemployed debt consolidation carries low interest rate and hence can be easily repaid. It helps you to get rid of all your loans and enjoy a debt free life. It can also be availed by students having bad credit history. With the help of student unemployed debt consolidation, students having bad credit history can increase their credit score by paying the loan installments regularly.

You can easily apply for student unemployed debt consolidation either by visiting physical lenders or by applying online. If you don’t want to take the pain of visiting lenders personally you should apply online. Also online method is a lot faster and hassle free compared to traditional method. With student unemployed debt consolidations you can easily pay off your multiple debts and lead a debt free life.

Jennifer Morva has been associated with Bad Credit Personal Loans. Having completed his Masters in Finance from Lancaster University Management School, he undertook to provide useful advice through his articles that have been found very useful by the residents of the UK. To find secured loans, personal loans, bad credit loans, Bad credit personal loans visit

November 16, 2017

FHA Mortgage Streamline Refinance Loans – Advantages and Qualifications!

Filed under: Loan — Tags: , , , , , , , , , , — admin @ 12:47 am

FHA Mortgage Streamline Refinance loans are available to homeowners that financed their homes with FHA Loans.First a little history on FHA Refinance Loans. They have been available for a long time, all of the way back to the 1980’s. Because of the popularity of FHA Home Loans the FHA Streamline Refinance Program has at least 20% of the home refinance market and it is increasing at a steady rate.The FHA Home Loan Program is very popular in today’s housing market because of the low 3.5% down payment and the lower credit scores needed to qualify for a loan. Most conventional and insured conventional loans require 20% down payment. The credit scores for FHA loans can be around 620.There are many advantages for this type of refinancing.The Advantages of FHA Mortgage Streamline Refinance Loans:1. The homeowner can get a lower interest rate and this will help them to reduce their monthly mortgage payment.2. They can change the terms of their existing loans such as the length of the loan.3. Quick processing and reduced paperwork and documentation. This is how they get the name “streamlined”. It will take less time to close and you will spend less time trying to get all of the paperwork and information together.4. Closing costs can be can choose to include them in the new loan if there is enough equity in the home or they can choose to have no closing costs but that may result in a higher interest rate.5. The homeowner does not have to verify income or employment status.Of course there are some qualifications that you will have to meet in order to get the Streamlined FHA Refinance loan.FHA Mortgage Streamlined Refinance Loans Qualifications:1. You can not be delinquent on your monthly mortgage payments within the last 12 months.2. The new mortgage loan must reduced monthly payments or the length of the loan. 3. No cash-out option is available. 4. No credit qualifications. Unfortunately things may be changing. FHA is considering changes to their loan program because of the cost of increased home foreclosures. Among the changes being discussed are the increase in mortgage insurance and higher credit scores to qualify for a mortgage. If you are considering refinancing your home mortgage now is a good time to get more inofrmation on FHA Mortgage Streamline Refinance Loans before the changes take place!

Click here for more free advice about FHA Streamline Refinance Program where you get much more information on the different types of FHA loans.

Learn more about the FHA Home Loan Program Requirements And Guidelines.

October 18, 2017

Fha Loans Have Key Advantages

Filed under: Loan — Tags: , , , , , — admin @ 12:48 am

Easy Qualification – The FHA home loan insures lenders against loss for loans made to properly qualified FHA home loan borrowers. So you’re likely to find FHA mortgage loans with terms that make it easier for you to qualify.

Minimal Down payment and Closing cost – FHA mortgages can work with as little as 3% down and those funds can come from a family member, charity, or your employer. Although the FHA loan does not have a zero down mortgage option yet, you will find that your loan officer can point you to many Down payment assistance programs that work well with Florida FHA home loans. In addition to low down payment options FHA allows the seller to pay up to 6% of your closing cost and prepaid items.

Less than A-1 Credit is Okay – The FHA home loan program exists to expand the pool of home buyers. Even borrowers with prior bankruptcies or mortgage lattes get approved every day for FHA mortgages to buy or Refinance homes The FHA loan program uses credit quality, not credit score!

Lower Cost Over the Life of the Loan – The FHA home loan rates are extraordinarily competitive. FHA’s lower risk to the lender means a better rate for the borrower.

Safeguards for Borrowers Who Get Behind – The FHA loan mortgages also allow the lender more options in helping borrowers who fall behind keep their homes are get current again: special forbearance, workouts, even free mortgage counseling. Further, FHA can allow the lender to take past due payments and move them to the end of the loan and in some instance will actually pay your past due payments for you. Options to save your home you’ll never get from a conventional loan! In an uncertain world, this is another excellent reason for you to get an FHA mortgage.

Options for Manufactured Housing – Under certain conditions, you can even finance a Mobile Home or manufactured home using a Florida FHA mortgage loan.

FHA Loans Are Fully Assumable – When you are ready to sell your home, you can offer buyers FHA financing! All FHA loans can be assumed by qualified buyers.

The FHA program has evolved since it started in 1934 and now has options for HUD insured loans that fit a variety of different borrowers and situations.

Thomas Martin FHA broker in Florida

July 20, 2017

Understanding the Advantages of Fha Refinance Loans

Filed under: Loan — Tags: , , , , , , — admin @ 12:46 am

The refinancing of your home mortgage isn’t something most people find as fantastic or interesting. Most people merely opt for the best solution given so that they can get on with the process of organizing and finishing the home loan. Well, FHA Refinance Mortgage loans do that for borrowers. FHA Refinance Home Loans will give you a solution that is almost perfect to your particular home loan needs and will give you exactly what you’re looking for when you want it.

FHA, (Federal Housing Administration) can provide all the required help so you are able to refinance your current home mortgage. This type of loan has specific benefits and guarantees the lender in case of default.  As a result, mortgage companies and lenders can offer you a better mortgage rate than if it was not government insured.

Typically, the loans are made under conservative underwriting guidelines to borrowers who have an established credit payment history, and in some situations those who are not your average borrowers are also granted approval for an FHA Loan. This can include borrowers who have had past credit issues but have not filed bankruptcy in the previous five years, as well as applicants with one income, or who have never had any history of credit.

An FHA refinance loan can assist you with the funds you need to make the type of repairs necessary for your home. It can also help you with the money you need to expand your home or make renovations. For there type of rehab loans, it will be required that all repairs are approved are completed in a cost and energy efficient manner. This will make certain that natural resources are preserved while the construction is being done and later.

So, why choose an FHA Refinance Home Loans over the conventional mortgages?

The reason is the fact that an FHA Refinance Home Loan offers you a way to do things that many typical mortgage do not allow.

FHA loans guarantee repayment for lenders

A 3% down payment is all that is required to purchase a home; even the closing costs can be financed into the mortgage.

You can purchase a home that is in need of rehab and finance the repair costs into the new mortgage.

An FHA loan is also available to purchase manufactured housing or mobile homes

There you have it. Now that you probably agree let’s understand something. The FHA doesn’t do the lending themselves. Rather they guarantee your loan to the lenders who are willing to get you approved. In return, lenders are sure that their money will be returned to them, even in the event of borrower default.

Frank Collins is an active investor in real estate and recommends to know all you can on FHA Jumbo Mortgages and finding

a Trusted Local FHA Mortgage Lender in your area.

May 20, 2017

Credit Card Debt Consolidation: Finding The Right Program – Advantages And Disadvantages

You never know when and who would need help from a credit card debt consolidation program. Sometimes unexpected circumstances can lead to financial difficulties which in turn would lead you to consider debt consolidation. Some of these circumstances are loss of job, loss in business, death of an earning member and so on. If you are finding it hard to pay off your credit card loans, then it is wise to consider debt consolidation. This is much better than bankruptcy. This article will help you with steps in finding the right credit card debt consolidation program, make you aware of the advantages and disadvantages of debt consolidation so you can decide whether credit card debt consolidation is the best option for you or not.

Basics of Debt Consolidation

Debt Consolidation is a big loan that will pay off your credit card loans. There are several ways these debt consolidation programs work. The most popular way is to take one lump sum amount of money from you (the borrower) and distribute it to your credit card companies (the lenders). All your loans will be consolidated into one payment usually withdrawn directly from your bank on a fixed date every month. These programs make the card holders life easier.

As a general rule, if you have many credit cards from different companies with high interest rates, then debt consolidation can help you manage your debt with only one bill and much lower APRs. These debt consolidation companies negotiate a lower interest rate for you and this can save a lot of money in the long run. This will work out in your favor if you have credit cards with APRs of around 30% because the debt consolidation programs can reduce these interest rates to between 12% – 18%. These programs require a monthly administration fees, which is usually around and this will come off your savings. Remember if the admin fee does not come off your savings, then it is not a good idea to sign up for a debt consolidation program.

So it looks like everything about the credit card debt consolidation is positive. Well, it is not always the case. There are a few advantages and also disadvantages of debt consolidation programs. You have to find a balance between them. The fact is that credit card debt consolidation companies do help you in paying off your debt. Here are some advantages and disadvantages of these programs.


1. Decreased payment amounts: The monthly payments will be less than what you were paying before debt consolidation because you are paying off the loan over a longer duration.

2. Simpler to manage: After you signup in the debt consolidation program, you will have a relief from reading your credit card statements, deciding how much to pay for each credit card and then making the payments one by one. Usually, the company will withdraw the money directly from the bank and you will not have to be concerned about late payments.

3. Decreased interest rates: This is one of the major advantages for many credit card owners. Some of the debt consolidation companies bring down the interest rates much lower than the current ones. This can save lots of money for you.

4. Debt Management tips: Many of the good debt consolidation give lots of free tips on managing your debt. They draw out a plan on debt management. These tips are invaluable. They even mail out booklets on debt management.


1. Lower FICO scores: Many experts debate that debt consolidation does not have any effect on credit (FICO) scores the fact is that debt consolidation has a negative effect on the credit scores. Enrolling into debt consolidation will always be reflected in your credit history. Most credit repair companies mention that it is difficult to increase your credit score if you are currently working with a debt consolidation program. Your credit scores can be raised after you have paid off the loans and are not currently in any debt consolidation program. Even if you can remove one credit card from the debt consolidation program that can help you increase your credit scores.

2. Higher Payment: Since your payments are made over a longer duration of time i.e. in more number of the years, then you will end up paying more in the long run. One way to prevent this is – if your financial situation has improved, then you can pay off larger sum of money. Most of times there will be no penalty for paying off the debt sooner than the agreed number of months. Before enrolling in a credit card debt consolidation program, you can confirm if there is a penalty or not for paying off the debt sooner than the agreed number of months.

3. Credit cards inactivation: If a credit card payment is enrolled in a debt consolidation program, then that particular card account will be inactivated. i.e., that credit card can no longer be used.

4. Negative Impact on Future Loans: Once you have enrolled in a credit card debt consolidation program, this will remain in your credit history. So, all future loan requests (new credit card applications, home loan, car (automobile) loans etc.) will involve references to your debt consolidation. i.e., the lender will have knowledge about your participation in debt consolidation program. Some people are very uncomfortable about this but it is up to you decide. Your credit history is a private record and will be provided by credit score companies only on a need-to-know basis. If you apply for home loan, then the chances of getting rejected is higher and if you get accepted, then mortgage broker will ask for explanation. Again all these conversations are kept confidential.

So, the question is – when should you consider a credit card debt consolidation? If you are paying high interest rates around 30% on a credit card, you have many credit cards, you are unable to make payments or your are barely able to make just the minimum monthly payments, you are finding it difficult to manage all the payments etc., you must consider signing up for a credit card debt consolidation program. After reading through the advantages and disadvantages mentioned earlier, make decision about signing up or not signing up for credit card debt consolidation program.

How to find a good debt consolidation program / company?

Signing up with the right debt consolidation program is critical for saving money and successfully consolidating your debt. There are a good number of scams in the debt consolidation business so it is in your best interest to proceed cautiously to prevent being victim of a scam. Here are some very good sources of finding the right debt consolidation program.

1. References from friends and relatives: It is best to ask your trusted friends if they have any recommendations for reliable credit card debt consolidation program i.e., if they have enrolled in one of these or know of anyone who enrolled in one and is satisfied. As mentioned before, there are many scams and so with this option, you can feel safe. This should be your first option.

2. Television advertisements: Most of big and established companies run advertisements on TV. These are companies that have a lot of experience and have been successful with debt consolidation. But it is a wise thing to research the company. Look for their website and check for their standing in Better Business Bureau (BBB) and must have been in existence for a few years. Also, search website for this company – this website where victims of scams post their experiences.

3. Mails: When you are unable to payoff debt on time, you will receive mails from some companies that will offer help with debt consolidation. These companies have permission to access some of your basic information. The good thing here is that your fit their profile of enrollees and that is why you received a mail with their credit card debt consolidation services. As mentioned earlier, research these companies using the same methods described above.

4. Telemarketing phone calls: Typically, telemarketing phone calls that you get is because your debt situation is such that it fits the requirement of their enrollees. If you receive a phone call, remember to never enroll in the first phone call. Note down all the details of this company such as the websites, contact person and phone number to call. Research the company extensively as mentioned above.

5. Online Research: Research the internet for good credit card debt consolidation companies both non profit and profit companies. Once you create a list of possible companies, research the companies extensively. Talk to these companies until you are comfortable about enrolling with them.

For a few months or years, if you can handle the disadvantages of credit card debt consolidation programs, then enroll in a program. Debt consolidation can get you out of your current debt problems and save you a lot of money by lowering your interest rates but if you do not spend judiciously, then you will be back into the same debt problems and this cycle will never end. So the long term solution to debt problems is to change your spending habits and live slightly below your means. Remember you need to manage the money / debt and NOT let the money / debt manage you.

The author Lokesh Kumar is a business owner, investor and has very good financial knowledge. Visit Best Credit Cards and Debt Consolidation website and blog for quality information about credit cards, debt consolidation, credit (FICO) scores and honest reviews of 500+ credit cards.

October 15, 2016

Some of the advantages of student loan consolidation

Filed under: Loan — Tags: , , , , — admin @ 12:47 am

Today, when students leave the university, usually are overwhelmed by student loans. However, a refinancing program available, as well as consolidating federal student loan, and allows people of all loans into a new loan. You have not yet paid the application of care through a credit check or fees. Here are some benefits you can enjoy even if you consolidate.

First you must qualify for lower payments per month. UsuallyIt will have a long payback, if you are a student loan consolidation, which helps to reduce the monthly payment, which can be very useful when you start.

Another advantage of consolidating your student loans is that you can lock the interest rate is low. Loans are likely to be a variable rate and can not be changed if consolidated. Go with a fixed interest rate can save you moneyAnnual depreciation.

You can also use a payment plan for you, if you create too. There are graduated payment plans that you can start with lower payments, and then you can do a payment plan that the aircraft leaving for the first time, will help the university to go.

There is only one monthly payment, if you are worried about the consolidation, which is another advantage. Instead of paying all the various allowances, there is a one time paymentI remember, on a monthly basis.

These are just some of the great benefits you get when you consolidate your student loans. It can also help your credit as well, which is another advantage. So if you have loans, you can check into a consolidation.

August 31, 2016

Advantages & Disadvantages of Debt Consolidation Loans

Filed under: Loan — Tags: , , , , — admin @ 12:47 am

It is very common to consolidate debt with a consolidation loan. Normally, people apply a loan that equal to the sum of their existing debt amount to pay off all their debt and then focusing on one monthly repayment to work their way out of debt. But, using a consolidation loan to resolve a debt issue may not be a perfect solution for everyone. There are a few disadvantages of debt consolidation loan besides its advantages that benefit the borrowers. You should consider these factors when deciding to consolidate your debt with a loan.Disadvantages of Debt Consolidation loansMany of consolidation loans are mortgages, which will attach to your property. You may put your home at risk if you can afford to pay the loan. The lender will foreclose on your home when you default the loan repayments for months as stated in your loan agreement. Therefore, if you decide to sign up a consolidation loan that needs to be secured with your assets, then you have to make sure you can afford the payment.A consolidation loan may cause you to pay more in total debt payment even though it has lower interest rate than your existing debts. For example, you have a few credit cards that are charging at interest rate of 20%, but the balance for each card is rather small, say under $2,000. You can choose to pay extra bucks each month toward the balance so that you can clear them off fast and save some internet. Or, you may consolidate these balances with a consolidation loan that has lower interest rate, and taking a repayment period of 10 to 15 years to clear it. At a glance, it looks like you are paying less with smaller month payment and lower interest. But, if you sum up the total payments that use to clear the debt, you will find that you are paying much more than if you paid the debts with consolidation.Advantages of Debt Consolidation loansIf you are getting behind on credit card repayments that cause extra finance charges such as late payment fees and over-limit fees (if you exceed the maximum limit allowed by the card); and, you find difficulties to keep the payment up-to-date, then a debt consolidation loan will benefit you. It will help to bring your debt back to current status, avoiding finance charges that cause you to pay more; and preventing your credit score from being hurt.You can take all of your debt and put them into a low interest-rate loan for a longer period of time by enrolling into a right debt consolidation program that fits into your finance needs. It will lower your monthly repayment and bring your finance situation back to a manageable level. The advantages of debt consolidation loans have benefited many debtors who have an overwhelming debt issue. It enables them to relax their high-pressure debt problem to a comfort level, giving them opportunity to re-schedule their debt payment and works a way out of debt.SummaryA consolidation loan can be used to resolve a debt problem, which will benefit debtors who are looking for a way out of debt. However, it is not a perfect debt solution as its disadvantages may cause them to pay more or lose their assets if they default the loan.

August 16, 2016

The Advantages Of Filing Your Tax Return Online

Filed under: Tax — Tags: , , , — admin @ 12:47 pm

Ever since people have known that they can do business online, many government and private agencies have set out to enable people do business with them through the internet. The tax agencies have not been left out either. Unlike in previous years where you had to stand on long queues or rely on the post office to help you complete the process of submitting your information, you currently do have the option of doing all these things through the internet and from the comfort of your bed.  Obviously, doing business online has not come without challenges, and there are plenty of reasons why people genuinely shy away contacting the taxman over the internet. But are you aware that there are so many advantages to doing so than the disadvantages of doing the same? Here:SpeedThe first advantage of filing your tax returns online is the advantage of speed. If you happen to do it through the web, you can be sure that you task is completed once you click on the submit button. This is true if you have submitted information that is accurate. On the other hand, it is a pretty big gamble for you to wait until the last day and then plan to submit your papers through the post office. Considering that the staff of the post office is usually overwhelmed at such times, it would be asking too much from them to expect them to deal with your submission expediently. Convenience The other obvious benefit of filing your tax returns online is the fact that it is very convenient for you. You can complete the whole process without having to get out of your bedroom. Convenience at this particular time is very important since there is usually a great fuss when people line up to file their returns that one can easily get a migraine  headache from simply watching the fuss around the process, especially during the last days before the deadline.Faster ProcessingAnother advantage of the online process over the offline process is the fact that the online process allows the taxman to process your return faster than if you would have done it offline. This makes it easier for you to start following up for any tax refund that might be owed to you. Again, the online process is advantages as it enables you to detect errors early. Normally, errors in calculations and other entries are easily detected and you will receive an email telling you that you made an error in your submission. Some people might raise security concerns about the online process and others might say that those who file their returns through the online mechanism stand greater chances of being audited. However, the numbers of benefits are just too many to make you ignore it.

July 27, 2016

Bad Credit Debt Consolidation Loan – The Advantages And Disadvantages

Filed under: Loan — Tags: , , , , , — admin @ 12:47 am

Bogged down by too many loans to clear off? Are you a victim of a bad credit history and finding it hard to get any more loans? Are you looking for a single loan that will consolidate all your high interest debts? Then the solution lies in a bad credit debt consolidation loan. As the name suggests this loan is specifically for those with a bad credit history and it gives the freedom to repay one single consolidated loan every month at a lower rate of interest.

There are a few types of loans that can act as a bad credit debt consolidation loan and they are secured loans (e.g. against property), personal loans and credit card balance transfer. The rate of interest in all the three varies quite a bit and it is important to understand each loan and choose the one that suits your needs best.

The advantages of a bad credit debt consolidation loan:

1. Finances made easy: The bad credit debt consolidation loan is one single loan that will take over the other small and usually high interest loans. These consolidated loans are usually at a lower rate of interest as compared to the many small loans you had previously. Since it is one loan that you need to pay off every month, it saves you the hassle of remembering the number of loans to pay off.

2. A single defined loan term: Since this is a single loan that consolidates all the other loans there is a defined time frame within which you have to pay it off.

3. Stop creditor harassment: Creditor harassment can be daunting. The innumerable phone calls asking to repay the loan can drive anyone up the wall. The bad credit debt consolidation loan can save you from the constant harassment of creditors.

4. Chance of getting more money: With a bad credit debt consolidation loan there is always a chance of getting a higher loan than what you have to pay off. This can be a blessing when you are in a bad financial state. Unsecured loans however have a defined limit.

The disadvantages of a bad credit debt consolidation loan:

1. Fear of losing house/property: If you don’t repay the secured loan on time there is always the fear that you might lose the house/property you have given as security.

2. Cumulative interest: If you increase the time span of your loan there is always a chance that your cumulative amount of interest to be repaid will increase.

3. Excess borrowing: With a secured loan you can get too much money in your hands that you may overspend. You will be able to afford a car you wanted to buy or a holiday you wanted to go to. This will increase unnecessary expenditure thus causing more problems.

4. Extra charges: There are usually extra charges that need to be paid with the bad credit debt consolidation loan and this may increase the total amount that needs to be paid and the financial burden ultimately.

Bad credit debt consolidation loans should be taken after due consideration and all the pros and cons must be looked into carefully.

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